Hi all,

Having started this thread, I have to confess that my first property was an investment property, not PPoR.

The reason? We couldn’t afford to buy where we wanted to live. But it didn’t mean we shouldn’t buy.

Thanks.

Angel

Hi sdem,

You success will NOT depend on Destiny. It will depend on YOU.

What you have already learned is crucial to what you’re about to do next. Build on it. Brick by brick.

Angel

Hi Breeza86,

Darling, what i’m going to say to you may not be what you want to hear. But first I want to stress that i don’t want to burst your bubbles. I just want to lay out some realities. Call it old age wisdom.

1. Do you have savings? If not, why not? If not, then you’re in no position to buy a house. Buying one takes massive…[Read more]

Hi all,

Let me throw my 2 bobs in, too.

I have never attended a seminar in my life. Oh, I did once out of curiosity.

The speaker claimed to own many properties . He talked about the benefits of property ownership, quoting a lot of his facts from Robert Kiyosaki, who we all know is an AMERICAN.

I was laughing my head off because so much of…[Read more]

Hi smart GenY,

You have provoked some good discussion… that’s is good in itself.

In answer to you question (prediction): @Angelinsydney – In the coming years there will be a record numbers of retirees. I am willing to bet my future that there will be enough of them with negatively geared IP who wont have the option of holding and will…[Read more]

Hi Jamie,

I suspect the low result for Queensland is due to flooding and continuing bad weather. Hopefully, for our Queenslander friends, blue sky is coming soon.

Angel.

Hi Ryan,

Of course, you have my permission to use this in your blog. The more people become educated, the better.

Hi Jase,

Agree with you. Negative gearing is just a sexy word for “loss.” A loss is a loss by any other name. Yes, the more we can persuade people to be wise with their money, the merrier we will all be.

Take care.

Angel

Hi all,

This is amazing read…. lots of fun really.

Well, I did work as a banker, a financial adviser and a mortgage broker. But the role I’m most proud of is being a MOTHER. So, my sole contribution to this very cerebral debate is this:

An old, proven proverb: Don’t put all your eggs in one basket.

Regardless of where we are in the…[Read more]

Good on ya, katiedee.

Hopefully you get some business.

Angel

Hi Linar,

You can google “David Baird” and see what comes up. Also, you can check with ASIC whether he or any of his companies has any past issues. NSW Office of Fair Trading is also a good source (if his business is registered in NSW). Other states have their equivalent fair trading department.

These government offices have a means of…[Read more]

Hi Personal Leader,

You’re forgiven for the call caps.

Valuers are very hard to please, especially when banking lending policies are tight. They are licensed and the bank “job” is their bread and butter and will not willingly jeopardise that. I’m afraid there really not much you can do but help make sure the property is clean and tidy. But…[Read more]

Hi rc388,

You are correct: The bank calculates what she can borrow by taking into account all loans taken singularly and jointly. Your situation is a non-issue provided if wife’s income and the rental income combined can service the debt levels for both PPoR and IP. But if it’s not…..

Is there a strategy in play here? Why the need to…[Read more]

Hi all,

I’d like to add my 2 cents worth.

Personally, I have one handyman who does all the work for me – except properties inter-state. He is wonderful, kind, and does what he promises to do ON BUDGET and ON TIME. And he knows my properties inside out, this is important to me.

Second, it does costs money to run a business. The bigger the…[Read more]

Hi guys,

I’ve been out of the game for 5 years or more. Back in the days before GFC, we didn’t ask for proof of savings if its 80% gearing. Has the rule book changed? Do banks require proof of savings now? That seems to be the drift I’m catching.

Thanks

Angel

Hi Pommy Ian,

There’s no such thing as “missed a boat.” There are many boats leaving the piers everyday, and many more loading.

Research, research, research.

Read as many threads in this forum as you can. chances are these questions have been answered in one form or another” “Also what type of house would make the best investment, location,…[Read more]

Hi all,

Where am I? Surprisingly, I received no “offers” from Forum members. But on the other hand, i wasn’t surprised either as it’s not positively geared enough.

I emailed this same info to some young guns I mentored in the past. They are not members of the forum yet but I am encouraging them to become so… both to give and to receive…[Read more]

Hi Octain,

I’ve been out of the game for awhile (was a mortgage broker) but I think you can’t get a residential loan for this type of purchase. Eight units in one block on one title screams “commercial” to me.

Did you mean to tell me you didn’t get a pre-approval before buying?

Hopefully you have a lot of equity on your PPoR because it’s the…[Read more]

Thanks,I'm looking for income. 

Hi fword,

I typed a response but it seems to have attached somewhere else….

Here it is again….

fWord, even if you don’t believe, it is important to take note if you’re buying in a suburb with high Asian population due to the fact that when it is time to sell your target market would be Asians. It is impossible to sell to them if they’re…[Read more]

Hi,

Can you “buy” a house in the US with a credit card? It’s a stupid question, I know, so please don’t thump me.

If I have cash stowed away for a purchase but prefer to use a credit card to get the “55 days interest free period” and then pay it off on due date, that would be great right?

US of A based people, please reply.

Angel